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Wednesday, 22 June 11
BOOMING INDONESIAN COAL EXPORTS - BLEEDING INDIAN POWER INDUSTRY
 COALspot.com - Indonesia shipped 28.962 Million tons of coal in May 2011, up by 15.86 percent compared to April export of about 24.995 million tons, Indonesian coal industry sources said. 56.30 percent up year-to year.
China's Indonesian coal imports have jumped up drastically in May by 2.105 MMt compared to its April imports. Chinese coal imports from Indonesia in May was higher than India's imports from Indonesia. India has imported 6.368 million tons in May where’s China has imported about 8.21 MMt which was 1.841 million MT higher.
India has lost its largest Indonesian coal importer status to China first time in the last five months. India was the largest Indonesian coal importer since January 2011 followed by China and other Asian countries. China is expected to import more coal in this month and coming months to increase energy supplies to prevent a worsening of its summer power shortage in seven years.
According to analyst, China faces a power shortfall, and that may extend to 40GW this northern summer, surpassing its 2004 power shortfall. China’s benchmark power-station coal prices rose to the highest since October 2008 as summer electricity demand increased in the world’s fastest-growing major economy, as quoted by Bloomberg its report early this week.
According to Indian coal minister, Indian coal imports may be at 250 million tons per annum by 2016. Coal imports is unavoidable option for Indian utilities due to non availability of economically viable coal from domestic mines. However, according to Indian UMPPs, due to Indonesian government regulation that forces all coal producers must sell coal at government declared monthly prices, would cost them at least US$ 30 per ton higher than they previously budgeted.
"Implementation of this proposed new rule by the Indonesian government ( I.e., the law mandates all coal producers to sell coal at government declared prices) will adversely impact all existing and future imported coal-based power plants in India, including UMPPs," Ashok Khurana, the Director General of the Association of Power Producers, said as reported by an Indian paper.
“When Indian companies invest in Indonesia, they tend to have the intent to sell coal at cost, so that Indonesian business unit remained at no or negligible profits. Taking a holistic view, however, the cash flows in an integrated Indonesian coal mining and Indian power generation unit after this regulation will continue to be similar, except that income taxes will be paid in Indonesia, and the cash flows will need to be brought on the books on Indian power project after paying taxes in Indonesia through appropriate and innovative business structuring,” said Dipesh Dipu, director, at Deloitte, mydigitalfc reported.
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Indonesia has introduced bench mark pricing mechanism for its coal since February 2010, and it has implemented for the domestic supplies as well export market. The pricing was done on very transparent way using four internationally acceptable coal indices to generate monthly Indonesian coal reference prices for about 62 types of coal including 8 types of bench mark qualities.
The regulation also requires miners to report sales volumes, prices, and buyers every month to the government, allowing it to ensure that the rules are being followed. Violations can lead to revocation of mining permits. The price benchmark aims to prevent firms selling coal to affiliates at low prices to avoid taxes that hurts Indonesia's efforts to collect revenues from its massive commodity exports.
Ministry of Energy and Mineral Resources of Indonesia has set the June 2011 Indonesian Coal Reference Price for thermal coal at US$ 119.03 per ton per ton, which was 1.20 percent higher than May 2011 price of US$ US$ 117.61. Assessment basis of coal price reference was calculated considering coal with GCV (GAR) 6,322 kcal/kg, Total Moisture (arb) 8.00%, Total Sulphur (arb) 0.8%, Ash Content (arb) 15.00% and delivery free on Board (FOB) Vessel basis and applicable for spot contract, delivery between 1 – 30 June 2011.
Indonesian bituminous coal of 5,500 kcal/kg NAR was offered at between $ 108 - 110 a ton, FOB vessel basis this week, slightly up from last week price, traders said.
According to Indian power industry sources opined that Indian UMPPs ( ultra-mega power project) suddenly caught in between as the concept of UMPP was implemented 4 to 5 years back. The large scale industrial houses in India have bided and secured UMPP licenses based on the open market prices /long term coal contracts from Indonesian producers (I.e., pre regulated Indonesian market). Now that Indonesian coal reference price mechanism is in place all the UMPP's are seeking Indian government’s assistance in revising the Power Tariff of UMPP.
Now, the bankers who have funded the projects are bit worried about the rising Indonesian coal costs versus the power sales price which was pegged at pre-regulation prices, Indian banking industry sources said. Now, we need to see whether Indian Government allows the UMPPs to revise the power sale prices based on Indonesian coal reference price mechanism.
As such India cement and steel industries were used to buy coal from South Africa and Australia on index base pricing mechanism since last four to five years. in view of the attractive profit margin levels, entire Indonesian coal producers migrated to Index based pricing for coal contracts . “Where's still many of the Indian utilities and private consumers are still procuring the coal on firm delivered basis. This concept is creating lot of confusion in the Indian trade circles” an Indian trader commented.
77.12 percent of total coal exports in May goes to China, India, South Korea, Japan and Taiwan respectively.
The coal export information within this article is provided by coalspot.com on an "as is" and "as available” basis. All details about, given in good faith, without guarantee. While every care has been taken to ensure the accuracy of information furnished in this article. COALspot.com shall be obliged if errors / omissions are brought to its notice for carrying out corrections in this article.
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Monday, 02 August 10
LINC, ADANI COMPLETE THEIR COAL CONNECTION
"THE much-speculated deal between underground coal gasification company Linc Energy and India's Adani Enterprises is set to be signed tomorrow ...
Saturday, 31 July 10
TABONEO ANCHORAGE TO LOAD 1.5 MLN TON OR MORE COAL IN H1 AUGUST
COALspot.com: Eighty five ocean going vessels and barges have been nominated by coal buyers to their respective suppliers in Indonesia to load about ...
Saturday, 31 July 10
SEEMS THE FREIGHT MARKET WOULD BE FAIRLY STABLE FOR H2 2010 - VISTAAR
COALspot.com: The BDI continued moving up since 16th July and rise by 14 pct almost touching 2000 points.
The BDI was up by 7.72 pct last week wh ...
Friday, 30 July 10
DRY BULK MARKET BACK ON THE ROAD TO RECOVERY
Freight rates for dry bulk carriers have continued to edge higher this week, with the industry’s main benchmark, the Baltic Dry Index (BDI) ga ...
Thursday, 29 July 10
GOVT TOO OPTIMISTIC ON IRON, COAL PRICE
Federal government forecasts of continued strength in iron ore and coal prices, which underpin revenue expectations for the proposed new mining tax, ...
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- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
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